GasBuddy News Article

Bloomberg
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Oil fell for the third time in four days on reports that President Barack Obama discussed a release from the U.S. Strategic Petroleum Reserve with U.K. Prime Minister David Cameron.

Futures declined 0.3 percent as Jay Carney, the White House press secretary, said the leaders reached no agreement. The price dropped as much as 1.6 percent in intraday trading after Reuters reported that two people it didn’t name said the U.K. has decided to cooperate with the U.S. on a supply release with gasoline pump prices over $3.80 a gallon.

“The market took a massive tumble on the rumors of a SPR release,” said Stephen Schork, president of the Schork Group in Villanova, Pennsylvania. “It makes sense that they would be planning a release now. We will have to see if the bears can continue to keep us...

If we change the rhetoric, we change the prices... as long as Romney is yacking about what he going to do to Iran, along with everything else that is happening in the Middle East, we will deal with higher than normal oil and gas prices.

Dumb, Drill for the 1 trillion barrels of oil in North Dakota, build the Keystone XL pipeline to move it to the Gulf refineries along with the Canadian Tar Sand Oil. Do something good for yourself and America, and dump Obama.

Obummer is lying--just getting ready to ramp up campaigning. He wants to see what effect the lie will have on the price of oil so that he can use it again to pull himself out of the fire just before the election.

The U. S. and U. K. combined can't release enough crude oil to have more than a week or two affect in the market. Far better to increase global production and refining capacity, plus look long-term at increasing alternative energy sources.

By all means, discuss away! But neither Obama nor Romney has the power to lower gas prices. The price of gas is market driven, and the President of the United States (whoever he or she is) has very little influence over the economy in general, and especially over gasoline prices. You'll see, if and when a Republican gets elected, that prices will not only stay the same, but increase.